More Steps Needed To Increase Pak-Russia Trade : Kozlov

KARACHI, (UrduPoint / Pakistan Point News - 03rd Nov, 2016 ) : The cooperation between Pakistan and Russia has been developing to a satisfactory level but still much needs to be done for enhancing the existing trade and investment cooperation between the two countries.

This was stated by Head of Russian trade delegation, Yury M. Kozlov during their visit to Karachi Chamber of Commerce and Industry, said KCCI statement here on Thursday. Yury Kozlov was accompanied by Consultants of Trade Commission of Russia in Karachi, Alexy Kudrayavtsev and Vladimir Teterin.

In the meeting with members of KCCI, Yury Kozlov said that under a wide scope of plan for enhancing Russian investment in Pakistan in various sectors including bio-engineering, agriculture and energy sectors.

Around 150 Russian companies were looking to explore opportunities of direct investment in Pakistan. Russian companies were sincerely interested in enhancing their cooperation with Pakistan, he added.

President KCCI Shamim Ahmed Firpo, Senior Vice President KCCI Asif Nisar, Vice President KCCI Muhammad Younus Soomro, Chairman of Diplomatic Missions and Embassies Liaison Sub-Committee Altaf A.

Ghaffar, Former SVP Muhammad Ibrahim Kasumbi and KCCI Managing Committee members attended the meeting. Agreeing to Karachi Chamber's concerns over lack of direct banking channel hindering trade between the two countries, Yury Kozlov said that the absence of direct banking channel was a problem which has to be addressed by the two sides.

Referring to construction of Dollars two billion gas pipeline project from Karachi to Lahore by Russia, he was fairly optimistic that it would play an important role in attracting Russian companies to invest in other projects.

Seeking Karachi Chamber's proposals on how to bring the business communities of the two countries more close to each other, he said that they would surely consider Karachi Chamber�s proposals pertaining to enhancing trade and bringing the business communities more close to each other.

Earlier, President KCCI Shamim Ahmed Firpo, in his welcome remarks, said that Karachi, which is the economic hub of Pakistan, offered profitable investment opportunities and added facilities for investment and joint ventures to Russian Investors.

He said that Karachi Chamber was keen to strengthen trade ties and explore new bilateral trade prospects with Russia as Pakistan's improved relations and enhanced trade with countries like Russia would surely help in dealing with numerous economic challenges being faced by the country and prove to be very beneficial for both the countries.